How CEOs Did Business in China This Year
2019 was certainly a challenging year for luxury brands in China. Issues such as the trade war and the country’s changing policies on luxury tax as well as the devaluation of the currency all forced decision-makers and CEOs to devote more resources to the mainland. In this climate, many brand-leaders pioneered new approaches or recalibrated strategies swiftly to navigate China’s nuanced domestic market successfully.
Valentino’s fusion of Haute Couture and streetwear was a daring experimental move while Moncler’s continued its innovation with a spearheading 24-hour Hackathon. Other companies continued to amplify what they do best: retail platform Farfetch amplified its digit path and Erno Laszlo’s efforts resulted in the roll out of a well-timed expansion over the next five years.
Below, Jing Daily’s selection of the top 5 CEO interviews in 2019. For more of our 2019 year in review analysis, read on here.
1. Remo Ruffini, Moncler, and the Cult of Innovation
Remo Ruffini purchased the failing luxury brand Moncler in 2003. Now, as Chairman and CEO, he has seen it transform into a company worth billions. This year, Moncler continued to innovate, introducing a hackathon that brought together 450 employees from around the world. It set them 24-hours to create new and distinctive solutions to a range of problems. Here, Remo Ruffini discusses his creative retail strategy and the brand’s approach to China. Read more.